Hochtief consortium to build Golden Gate road

BERLIN 
German construction company Hochtief AG says a consortium led by its U.S. subsidiary will build a new access road to San Francisco's Golden Gate Bridge in a $1 billion deal.

The company said Friday that California authorities have published a notice of intent to award the project to build, operate and maintain Presidio Parkway to a consortium around Hochtief PPP Solutions North America.

Presidio Parkway is intended to replace the current southern access road to the bridge. Hochtief said the plan is for its consortium to be awarded the contract in December at the latest.